By Savvas Skordellis
The role of the predictive analysis and data in the legal industry has seen an incredible rise in the last decades. Law firms can use data analytics for research purposes. Research is the thinking process, which puts technology and people into a dynamic relationship. Clean and enriched data underpins the technology and the people. Predictive analytics supports quantitative research, making sense of big data and unwieldy data sets, which support qualitative data.
On the other hand, the courts will take into account more than the rational as they also include human behaviour and emotion. In case of management, lawyers often seek to second-guess the best time to file a case, which jurisdiction to use or what judge might be more sympathetic, but also to understand the human task of legal reasoning by judges.
LexisNexis – Ravel Law, seeks to help lawyers to be data scientists through user-friendly data mining that can uncover patterns in a range of outcomes. Ravel’s Judge Analytics enables lawyers to find out whether a judge is sympathetic towards an argument by analysing past decisions. Another LexisNexis product, Lex Machina, also mines and analyses data from past legal proceedings, revealing connections and making predictions about outcomes, assisting legal departments to select and manage outside counsel.
Additionally, ContraxSuite uses AI and human input to augment and integrate the user’s experience in document research. What legal analytics is doing though, is encouraging lawyers to take a more data-based approach to their decision making. In litigation, predictive analytics is a powerful tool in case law research and eDiscovery. Intraspexion uses deep-learning and predictive analytics to predict and prevent potential litigation based on its patented software.
Another division of legal analytics is the development of intelligent interfaces; that can guide lawyers or clients to specific legal information for their legal needs. The aim of this technology here is to help guide a user through to the right outcome. ML may also be used to help the system better provide the right answer that is tailored to the user’s needs.
Rather than asking the client to do all the work, an AI system could be used to help guide clients to the right outcome in terms of an advisory path and understand their queries using NLP. Equally, there are opportunities for firms to use predictive analytics in identifying new business, being more effective in bringing new clients on board, leveraging data use within the firm, cross-selling and upselling existing clients, and reducing their own operational costs.
Like many emerging technologies, predictive analytics is just beginning to have a significant impact on the practice of law. With the right tools and an appreciation of the future potential, early adopters can gain an edge on competitors and make an impact on clients. Therefore, lawyers are well-advised to see predictive analytics the way they use their own perception; it offers powerful support but is unlikely to replace them or at least, anytime soon. The legal profession is undergoing a great transformation.
The tools of AI, ML, NLP and CC can be used to study, predict, and respond to normative judgments. In this assignment, the concept of predictive analytics in law and the benefits that could be derived from it to enhance the decision-making process was highlighted. Within the world of law, data and technology are essential components of internal and client-facing delivery.
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